The CFPB issues a final Advisory
Opinions (AO) Policy to address regulatory uncertainty and provide guidance
to covered entities.
Under the final Policy, any person or entity can submit a
request for an AO via email to advisoryopinion@cfpb.gov. The Bureau will review the submissions
received, prioritize certain requests for response, and issue opinions with a
description of the incoming request. The Bureau may also decide to issue
advisory opinions on its own initiative.
To increase transparency, the Bureau will publish all AOs
in the Federal Register and on its website here.
In determining whether to respond to the request, the
Bureau will prioritize open questions within the Bureau’s purview that can
legally be addressed through an interpretive rule.
In addition to the final Policy, the Bureau also issued
its first two AOs: